DME launches Mideast crude trading platform issacjohn@khaleejtimes.com Filed on April 5, 2021
The new service offered by DME will shed the light on the growing importance and the status of DME Oman as a strong and reliable Benchmark for the Middle East, representing consistent fair value for Sour Crude barrels to the East of Suez. Supplied photo
The Alternative Crude Ecosystem (ACE) is a bilateral trading platform that enables participants to trade multiple crude grades through the exchange
The DIFC-based Dubai Mercantile Exchange announced on Monday the launch of a new platform to trade multiple Middle East crude grades priced against DME’s Oman crude futures.
By: Times News Service
Political tensions and global recovery are expected to boost oil prices. Photo: FIle
Muscat: The continuing rally in oil prices will help strengthen the economy of Oman with the prices now returning to where they were before the pandemic struck, and reaching their natural position, according to experts.
On Monday, Oman oil prices rose sharply by US$1.94 to reach US$68.35 compared to the price of last Friday, when it closed at US$66.41.
The average price of Oman Oil (March Delivery 2021) has now stabilised at US$54.78, this is US$4.79 per barrel higher than February Delivery 2021, Dubai Mercantile Exchange (DME) data reveals.
Due to the farmers’ protest, the two sections of DME have been shut for more than two months.
GHAZIABAD: The farmers’ agitation will delay work on the second and fourth phases of the Delhi-Meerut Expressway, which the National Highways Authority of India (NHAI) had planned to get ready by February.
On the UP Gate to Dasna section of the road, 94% of the work is complete and on the Dasna-Meerut stretch, 92% construction is over. Due to the farmers’ protest, the two sections of DME that are open (phase 1 and 3) have been shut for more than two months.
“Except for minor things, most of the construction is over and since December, we have been planning to finish the two remaining packages of DME UP Gate-Dasna and Dasna-Meerut stretches,” said Mudit Garg, the project director. “More than 90% work is complete on the two stretches and we were prepared to commission both sections by February-end. But due to the farmers’ agitation that seems unlikely,” Garg added.
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